USDA Long-Term Meat Trade Projections: A Comprehensive Evaluation

Abstract

AbstractThe profitability of U.S. meat producers and the utility of U.S. meat consumers are impacted by the trade of meat. USDA publishes the most prominent publicly available meat trade projections. This study finds USDA projections typically underpredict meat export volumes and overpredict meat import volumes. USDA projections outperform naïve projections for beef and pork exports, but naïve projections at times outperform USDA projections for chicken exports and beef and pork imports, especially at shorter horizons. USDA projections exclude variety cuts, which comprise a sizeable share of beef and pork exports. There remains room for improvement in projecting U.S. meat trade.